Gas prices-

[justplugit]

Down to $3.63/gal this morning.

Albeit driving is down, it didn't take long for oil to drop once the Arabs an speculators thought we were serious about drilling.

Now congress votes to take a recess , losing another 6 weeks before voting to drill.

Prolly want to give Obama's plan of proper tire infaltion and tune ups to take affect so we won't have to drill.

Lets get started here, it's not like we are novices in drilling, we already get 40% of our oil from domestic drilling.

[striperman36]

natural gas is expected to be 17 pct higher than last year

[eastendlu]

Thae question that should be asked is why is oil going down when there is a big storm hitting some oil platforms in the Gulf?Last time a storm that came even close it would shoot up what a scam!!!

[RIROCKHOUND]

Absolutely it is a scam Lu.

Drilling will not do %$%$%$%$, in the short term. Waiting 6weeks on a 10+yr plan of initiating drilling is not significant.

I think, even with the drop in price, people are driving less. Hopefully the trend continues.

[Raven]

Originally Posted by striperman36

natural gas is expected to be 17 pct higher than last year

30 something percent for nat gas

[Raven]

of a quicker way to make battery components using microwave technology shortening the time from 24 hours to 5 minutes.

that will make the new batteries cheaper...

OL Cheeseburger Mc Caine is calling for 30 more nuke reactors
by 2030 and for us to utilize these as a source of power to recharge the nations automobiles
it will require newer/ faster and cheaper batteries so this is a significant
step in attaining that goal.

i like it...
to read more
http://www.uwire.com/Article.aspx?id=1073960

[PaulS]

So the threat of drilling where the first oil would come on line in 6-8 years caused the price declines and not the immediate cut back in demand?

[hulkyj61]

If Katrina can make prices go up the next day, an offshore drilling agreement will make them go down. It's all about speculation. The speculators have realized that $4 gas cripples the economy and will cause a sharp drop in demand (what we see now). But, as extreme as this sounds, $4 gas was a wake up call and somewhat of a good thing. It gets the ball rolling on alternative fuels that we will need badly in the next century, oil is not forever.

Expect to see oil settle down between $75-$90 a barrel over the winter, and gas about $3.25/gal during the winter months...unless a catastrophic storm hits the gulf and causes a panic again.

[RIROCKHOUND]

Wow you are optimistic. I don't think I've seen on analyst predict that large of a drop this winter. I think where we are now is about where we stay; unless we have a major storm.
a lot of people up north are going to have a cold, expensive winter.

[Backbeach Jake]

It's all part of our training process. See how high the price can be before we scream and stop driving, then throttle back so it seems like we're getting a deal, but not as low as it was before. Repeat the process over and over, the price goes higher and higher.
BTW, I really don't think that the petro-speculators give a greengoddamn about harming anyone or anything, more oil means more profit, they don't care who can't commute or who freezes. Oil needs to be regulated, energy needs to be regulated.

[striperman36]

Originally Posted by Backbeach Jake

It's all part of our training process. See how high the price can be before we scream and stop driving, then throttle back so it seems like we're getting a deal, but not as low as it was before. Repeat the process over and over, the price goes higher and higher.
BTW, I really don't think that the petro-speculators give a greengoddamn about harming anyone or anything, more oil means more profit, they don't care who can't commute or who freezes. Oil needs to be regulated, energy needs to be regulated.

The silent populous getting soaked for every dime we have.

[hulkyj61]

Originally Posted by RIROCKHOUND

Wow you are optimistic. I don't think I've seen on analyst predict that large of a drop this winter. I think where we are now is about where we stay; unless we have a major storm.
a lot of people up north are going to have a cold, expensive winter.

I know the circumstances are not the same but the oil crisis in the 1970's brought record prices to the pumps. Now the dollar amount never came back down to what it was, but it leveled out with inflation during the 1990's. Since there is more demand around the globe today the price is much higher, but should level out as new technologies come about and demand decreases.

These are just my opinions as a business/economics student and what I have read and applied to these real life situations.

[stripersnipr]

[QUOTE=RIROCKHOUND;609808]Drilling will not do %$%$%$%$, in the short term. QUOTE]

That's what the Econazis were saying ten years ago.

[justplugit]

Originally Posted by Backbeach Jake

It's all part of our training process.

Ya, Fred, the monkey never learns.

I'm no expert on oil prices, that's for sure.
Depends on who and where you get your information from. So many contradictions.

I've read where as high as 60% of oil prices are due to speculation.
Therefore if that is true, it would make sense if there is a chance of more oil coming to the market prices on NYMEX would react.

OPEC refers to NYMEX when setting it's prices so it has a big effect.

A few months ago i read where gas would be $5/ gal by Labor Day, and now with people driving a little less and polls showing 70% of the American people
want to drill, oil prices have suddenly dropped from over $157a barrel to today's price of $118.

I've read where the Democrats don't want to vote on the drilling question until after the election.
I've read where the oil companies are to blame, or not.

Charts show that seasonal summer gas price drops start at the end of August but now it's just the beginning of August.

A lot of factors to sort out for sure.

Does anyone really know.

Only thing i know for sure is in these dangerous times we need to start drilling yesterday, as ya can't run tanks and jet fighters on batteries yet.

[Scaup]

Originally Posted by justplugit

I've read where the Democrats don't want to vote on the drilling question until after the election.

Dems want to try and hold off on vote because they assume they will gain the WH and retain control of congress and therefore can do something other than be forced to vote on drilling - its political posturing and nothing more - its not based on doing what the American people want.

[Fishpart]

Interestingly enough, as the price of oil drops the DJIA goes up. The speculators have made a fortune on oil and are retreating to the stock market.

Personally as someone who makes stuff for a living, I believe high oil can only help us because it makes artifically low priced Chinese goods more expensive than locally manufactured goods. It also opens up more incentive for people to recycle, thus creating more industry locally to take advantage of less transportation. I just hope my theories become more widely accepted. We need to do things for the right reasons F#$% THE CEO and his board of YES MEN. In the long run doing the right thing for the right reasone will create more value for the shareholders.

[Hooper]

High oil prices will certainly cause short term pain for all of us, but it is the greatest incentive for the development of new technologies, bottom line.

When gas was $1.55/gallon corporations were not investing in the development of long life batteries, fuel cells, nuke power, etc... They are now.

I believe we need to have a massive two prong approach of 1.) drilling now to try and keep supplies higher, 2.) going full speed ahead on new energy methods that will allow the world to leave fossil fuels behind.

[Scaup]

its tough to build refineries, nuke plants, clean coal etc when the controlling party in congress blocks this type of infrastructure construction and alternative fuels/energy could be as much as 10 years off (at least ones that will have a major impact)

[Flaptail]

Originally Posted by Karl F

It's in the late summer regular cycle.. gas dropping, heating oil going up... then in spring.. reverse...

reminds me, i got wood to split... and stack

Wouldn't have any Atlantic White Cedar would you?

[Flaptail]

Originally Posted by Hooper

High oil prices will certainly cause short term pain for all of us, but it is the greatest incentive for the development of new technologies, bottom line.

When gas was $1.55/gallon corporations were not investing in the development of long life batteries, fuel cells, nuke power, etc... They are now.

I believe we need to have a massive two prong approach of 1.) drilling now to try and keep supplies higher, 2.) going full speed ahead on new energy methods that will allow the world to leave fossil fuels behind.

Bingo Hoop! You nailed it, too bad the solution is so simple cause Washington doesn't know how do do anyhting simply!

[justplugit]

Originally Posted by Scaup

- its political posturing and nothing more - its not based on doing what the American people want.

That's why people need to e-mail their representatives expressing their views and check their voting record on the issue.

Like when does the average American have time to do that??

Politcians depend on people not really having the time to make intelligent voting decisions.

They depend on their innuendo ads, if you can't convince them with the facts, dazzle em' with BS.

[Joe]

Global demand has increased 100% over the last year and that is what has pushed oil prices higher.
China and India grew at a remarkable 100% last year.
Somebody pass me the vasoline.

[RIJIMMY]

you nailed it Joe. Its never made sense to me. No economys grow that fast and if so, you'd also have a major boom in the auto market to support the new demand.

[zacs]

Originally Posted by RIJIMMY

if so, you'd also have a major boom in the auto market to support the new demand.

you do-- over there. they don't import for the most part.

[RIJIMMY]

I would think it would be an astronomical boom

[Joe]

Follow the money.

[justplugit]

Sats for first quarter profits:

Big Oil 7.4%

Pharm and med 25.9%

Chemicals 15.7%

Electronic equipment 12.1%

So why does Big Oil get picked on for 7.4% profits by the politicians,

albeit it is a necessary commodity and a sore spot with Americans,

the profit is in the billions not the millions which means more volumde of $$ they can tax.

[Scaup]

Why? because when politicians tell people they will give them $1,000 because a company made too much money, people think that is a good thing

People dont stop and think that a candidate is going to take (no other word to use except steal) from a company that made money legally and paid taxes and give that money to others - all because they made too much money

No one on earth can give a logical explanation to support this pandering

[EarnedStripes44]

Drill Here, Drill Now, Pay Less

[Scaup]

its funny but I doubt over 75% of this country are republicans